What is an Axis Bank NRE Fixed Deposit?
The Axis Bank NRE FD is a financial product under which Non-Resident Indians invest money for a predetermined time and earn interest on it. The account offers a higher interest rate than that offered by a savings account. The Axis Bank NRE FD is one of the easiest ways to invest and grow foreign income in India.
Rate of Interest on Axis Bank Non-Resident External (NRE) FD Account Deposits
The Fixed Deposit interest rates for Axis NRE fixed deposit accounts, with and without premature withdrawal options, for amounts below ₹3 crore, from ₹3 crore to ₹500 crore, and above ₹500 crore are as follows:
| Maturity Period |
Interest Rates (% per annum) |
| With Premature Withdrawal |
Without Premature Withdrawal |
| Below ₹ 3 Cr |
₹ 3 Cr to ₹ 500 Cr & above |
₹ 3 Cr to ₹ 500 Cr & above |
| 1 year – 1 year 10 days |
6.70 |
7.05 |
7.15 |
| 1 year 11 days < 13 months |
6.70 |
7.05 |
7.15 |
| 13 months < 15 months |
6.70 |
7.05 |
7.15 |
| 15 months < 18 months |
7.05 |
7.05 |
7.15 |
| 18 Months < 2 years |
7.05 |
7.05 |
7.15 |
| 2 years < 3 years |
6.90 |
6.90 |
7.00 |
| 3 years < 5 years |
6.90 |
6.90 |
7.00 |
| 5 years to 10 years |
6.90 |
6.80 |
6.90 |
Note: *Interest rates effective from April 23, 2025. Axis NRE FD rates are subject to change without prior notice.
Foreign Currency Non-Resident (FCNR) (B) Deposits
The FCNR(B) deposit interest rates are as follows:
| Maturity Period |
USD |
|
|
|
|
|
| < 1 million |
≥ 1 million |
GBP |
EURO |
AUD |
CAD |
JPY |
| 1 year < 2 years |
4.85 |
4.85 |
4.75 |
2.50 |
4.40 |
3.25 |
0.01 |
| 2 years < 3 years |
4.00 |
4.00 |
4.00 |
0.01 |
3.90 |
2.55 |
0.01 |
| 3 years < 4 years |
3.70 |
3.70 |
0.01 |
0.01 |
3.60 |
2.30 |
0.01 |
| 4 years < 5 years |
3.50 |
3.50 |
0.01 |
0.01 |
3.55 |
2.25 |
0.01 |
| 5 years |
3.50 |
3.50 |
0.01 |
0.01 |
3.55 |
2.00 |
0.01 |
Note: *Interest rates effective from April 15, 2025. Axis FCNR(B) rates are subject to change without prior notice.
Resident Foreign Currency (RFC) Term Deposits
The RFC term deposit interest rates are as follows:
| Maturity Period |
USD |
|
|
|
|
| <1 million |
≥1 million |
GBP |
EURO |
AUD |
CAD |
| 1 year < 2 years |
0.15 |
0.15 |
0.15 |
0.01 |
0.30 |
0.35 |
| 3 months < 6 months |
0.25 |
0.25 |
0.15 |
0.01 |
0.30 |
0.35 |
| 6 months < 1 year |
0.30 |
0.30 |
0.15 |
0.01 |
0.30 |
0.35 |
| 1 year < 2 years |
4.85 |
4.85 |
4.75 |
2.50 |
4.40 |
3.25 |
| 2 years < 3 years |
4.00 |
4.00 |
4.00 |
0.01 |
3.90 |
2.55 |
| 3 years < 4 years |
3.70 |
3.70 |
0.01 |
0.01 |
3.60 |
2.30 |
| 4 years < 5 years |
3.50 |
3.50 |
0.01 |
0.01 |
3.55 |
2.25 |
| 5 years |
3.50 |
3.50 |
0.01 |
0.01 |
3.55 |
2.00 |
Note: *Interest rates effective from April 15, 2025. Axis RFC Term Deposits rates are subject to change without prior notice.
Why Choose an Axis Bank NRE FD Account?
The Axis NRE FD account offers its customers various benefits, including:
-
NRE FD is maintained in Indian rupees, saving the funds from foreign exchange rate fluctuations.
-
The bank catering to different needs of various individuals offers a flexible tenure to deposit money ranging from 1 to 10 years.
-
Axis Bank NRE FD provides tax benefits on interest earned over time.
-
The funds and earned interest in NRE FD can be completely transferred to foreign banks without tedious formalities.
What Are the Eligibility Criteria for an Axis Bank NRE FD Account?
In order to open an Axis NRE FD account, the following conditions are to be fulfilled:
-
The customer must have valid ID proof, including an Indian passport or a PIO card.
-
Must fall under one of the NRI, PIO, or OCI categories.
-
Required to show authentic overseas address proof.
-
Must present valid proof, including a student visa or employment visa.
How to Open an Axis Bank NRE FD Account?
Axis Bank offers online and offline processes for opening an NRE FD account. Here are the steps to open an Axis Bank NRE FD account:
-
Online Application Process:
-
Visit the Axis Bank NRI Portal:
Go to the designated NRI section on the Axis Bank website and select "Open NRI Account."
-
Complete Online Registration:
Fill out the application form with the required information.
-
Secure Document Upload:
Upload digital copies of essential documents such as your passport, visa, and address proof.
-
Convenient Document Collection:
The bank will schedule a pick-up for your physical documents.
-
Account Activation and FD Booking:
Upon successful verification, your NRE account will be activated, allowing you to book your Fixed Deposit.
-
Offline Application Process:
-
Branch Visit:
Visit your most convenient Axis Bank branch, bringing all necessary documents.
-
Application Assistance:
An NRI customer service representative will guide you through the FD application form.
-
KYC Document Submission:
Provide your required Know Your Customer (KYC) documents, including your Passport and Visa.
-
Account and FD Opening:
The bank will facilitate the opening of your NRE account and Fixed Deposit.
Documents Required to Open Axis Bank NRE FD Account
The following documents are to be submitted while opening an Axis NRE FD account:
-
Documents to be submitted by NRIs
At the time of submitting an application to open an NRE FD account at Axis Bank, the following duly signed documents are to be submitted:
-
Documents to be submitted by OCI / PIO
While submitting an application to open an NRE FD account at Axis Bank, the following duly signed documents are to be submitted:
-
Documents to be submitted by Students
Students, while submitting an application to open an NRE FD account at Axis Bank, have to submit the following duly signed documents:
-
Documents for Seafarers
Seafarers, while submitting an application to open an NRE FD account at Axis Bank, have to submit the following duly signed documents:
Conclusion
One of the easiest and sure-shot ways for NRIs to judiciously invest and grow their earnings from abroad is by investing in an Axis Bank NRE FD. You can manage your funds in India without much hassle. By keeping yourself updated with the latest Axis Bank NRE FD rates, you’ll be able to analyze the rates along with the time period most suitable for you so that you attain your financial goals at your desired time.
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